KARACHI: The International Monetary Fund (IMF) Thursday said the Pakistan’s GDP growth is projected to grow at 5.6 percent this year, supported by improved security conditions, energy supply, infrastructure investment and agriculture.
An IMF staff mission, led by Harald Finger, visited Pakistan this week to conduct discussions on the first post-programme monitoring after the end of Pakistan’s Extended Fund Arrangement (EFF).
At the conclusion of the mission, the IMF staff stated that Pakistan’s growth momentum had continued to be favorable, while maintaining this positive trend will require strengthening the economy’s resilience with greater exchange rate flexibility, fiscal discipline, and an adequately tight monetary policy stance.
“The recent move by the State Bank of Pakistan (SBP) to allow adjustment of the exchange rate is welcome, and continued exchange rate flexibility will be important in the period ahead.”
“It has been a great pleasure for the mission to visit Pakistan and hold productive discussions in Islamabad for the first time in four years, which is reflective of the improved security situation in the country. The mission met with the Pakistan’s economic team, representatives of the business community, and academics. The mission would like to thank the authorities for their hospitality and constructive dialogue.”
“Strengthening the economy’s resilience will be important to maintain Pakistan’s favorable growth momentum and ensure sustainable private investment and job creation in the medium term.
Published in Daily Times, December 15th 2017.